News stories from Friday September 19, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A Federal District Court Judge in San Francisco withheld the right of bail for Patricia Hearst because he questioned whether she might not run away. Judge Oliver Carter said he would again hear evidence on Tuesday and warned that his decision would be based on the question of whether Miss Hearst should be admitted to bail at all, not the question of how high it should be. He said "the question is whether she should be at large. This is not a simple proposition in which you can use words to gloss over what has been done." [New York Times]
- The Labor Department said the Consumer Price Index rose by two-tenths of 1 percent in August, the smallest increase in three years, A White House spokesman warned, however, that the slight rise was probably an aberration," and that "the underlying rate of inflation was a good deal higher." Economists in and outside the government agreed with this. [New York Times]
- A panel of Air Force officers in Hampton, Va., rejected Sgt. Leonard Matlovich's challenge to military regulations that ban homosexuals and recommended that he be discharged. Sergeant Matlovich, 32 years old, was awarded the Bronze Star and the Purple Heart for wounds suffered in Vietnam. He made his homosexuality known in a letter to a superior officer. [New York Times]
- Sources familiar with the secret legal proceeding said that an attempt by former President Richard Nixon to resign from the state bar has been rejected by a New York court because he has not admitted wrongdoing in connection with the Watergate scandal. They said that Mr. Nixon, who has stated that he does not intend to practice law again, would not be permitted to resign from the bar unless he acknowledges at least some responsibility for Watergate crimes. [New York Times]
- Freddie Pitts and Wilbert Lee, who had spent 12 years in a Florida prison for someone else's crime, were released with an executive pardon and given $100 each by the state, which twice convicted them of murder and kept them on death row for more than 3,000 days and nights while refusing to prosecute the man who had confessed. Their case is regarded by many people as the most blatant miscarriage of justice in Florida's history. [New York Times]
- The White House announced the resignation of Ray Garrett Jr., the chairman of the Securities and Exchange Commission, and of William Casey, a former chairman of the S.E.C. who is now the head of the Export-Import Bank. It appeared to be only a coincidence that both announcements were made on the same day. [New York Times]
- A new Portuguese coalition cabinet, strongly opposed to Communist rule, was sworn in tonight. The 15-member cabinet, led by Vice Adm. Jose Pinheiro de Azevedo, a leftist navy career officer, as Premier, includes one Communist, the Public Works Minister. [New York Times]
- Jordan informed the United States privately that King Hussein dropped his apparent objections and agreed to accept all conditions imposed by President Ford on the development and use of 14 batteries of Hawk antiaircraft missiles that were to be sold to Jordan. A State Department spokesman said that as the result of intensive diplomatic talks between Washington and Amman "misunderstandings" had been "cleared up" and that the transaction -- a $260-million contract for the delivery of 532 missiles -- would proceed as planned. [New York Times]
- A group of Arab countries has pledged about $25 million to the United Nations Educational, Scientific and Cultural Organization to make up for the funds the United States has been withholding because of UNESCO's anti-Israeli actions. [New York Times]
- The wreck of an early Bronze Age ship, believed to be the oldest shipwreck ever found, was discovered off the island of Hydra in Greece by a team of archeology researchers led by Peter Throckmorton, an American. The ship carried a cargo of pottery dishes and cooking ware that put its date at about 2,500 B.C. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 829.79 (+15.18, +1.86%)
Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish. | |||||||||||||||
| Market Index Trends | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| September 18, 1975 | 814.61 | 84.06 | 14.30 |
| September 17, 1975 | 799.05 | 82.37 | 12.19 |
| September 16, 1975 | 795.13 | 82.09 | 13.09 |
| September 15, 1975 | 803.19 | 82.88 | 8.67 |
| September 12, 1975 | 809.29 | 83.30 | 12.23 |
| September 11, 1975 | 812.66 | 83.45 | 11.10 |
| September 10, 1975 | 817.66 | 83.79 | 14.78 |
| September 9, 1975 | 827.75 | 84.60 | 15.79 |
| September 8, 1975 | 840.11 | 85.89 | 11.50 |
| September 5, 1975 | 835.97 | 85.62 | 11.68 |